Stop/Limit Order

Brief

Stop/Limit Order is an order to close a position of a symbol, when the market price reaches the price specified in the order. Stop/limit orders can be added to a market order, to an entry order, and to a symbol.

Details

A Stop/Limit Order is an order to close a position of a symbol, when the market price reaches the price specified in the order. Stop/limit orders can be added to a market order or to an entry order.

A Limit order is an order to close a position at a specified price to lock in the profit if the market price moves to your advantage.

A Stop Order can be trailing. Trailing Orders are used to lock in the profit if the market price moves to your advantage. The order price automatically follows the movement of the market price by a trailing step each time the market moves to your advantage.

Unlike stop/limit orders on non-U.S.-based accounts, stop/limit orders on U.S.-based accounts do not close the position for which they are created. In accordance with the FIFO rule they close the oldest of the existing positions of the same symbol. If the net position is closed by other orders, so that the remaining amount of the position is less than the amount of the stop/limit orders, their amount is changed automatically. Any amount of said stop/limit orders is cancelled after the net position is closed in full.

You can add stop/limit orders when you create a market order and create an entry order. The stop/limit orders can be also added to an entry order until the entry order is executed. In addition, you can add stop/limit orders to a symbol if there is at least one opened position. Unlike stop/limit (Net) orders, these orders are not intended to close all positions at a time but to reduce the net amount at the specified price by the value of your choice. So, you can specify the amount of the orders which, of course, cannot exceed the net amount opened in the symbol. The number of the stop/limit orders you can place is unlimited.